ANTA vs SHEIN

Anta Sports completes Puma stake acquisition, becomes largest shareholder

Chinese sportswear giant Anta Sports has finalized the acquisition of a 29.06% stake in Puma from Groupe Artémis for approximately €1.5 billion (nearly $1.7 billion). This makes Anta the largest shareholder in Puma. Anta will seek representation on Puma's supervisory board but has no plans for a full takeover. The deal, first announced in January, comes as Puma undergoes a turnaround with recent leadership changes and layoffs. Anta's chairman expressed confidence in Puma's management and strategic transformation, aiming to support its growth while respecting its independence.

• Anta Sports completed acquisition of 29.06% stake in Puma from Groupe Artémis for ~€1.5 billion (~$1.7 billion).
• Anta becomes largest shareholder in Puma.
• Anta will seek representation on Puma's supervisory board; no takeover offer planned.

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French Cosmetics Exports Hit by China Customs Delays

French cosmetics manufacturers are experiencing increasing difficulties importing their products into China, with customs clearance and regulatory registration processes delayed. The industry association Cosmetic Valley reports that some companies estimate around 15% of their goods destined for China are stuck at customs. The association suspects a link to France's stricter anti-fast-fashion measures and EU tariffs on small parcels, which affect platforms like Shein and Temu. However, Chinese authorities have not confirmed any political motive. In 2025, French cosmetics exports to China reached €1.8 billion, making it the second-largest export market. These delays could impact supply chains and product launches. The situation highlights how trade disputes can affect industries beyond the original target.

• French cosmetics manufacturers report customs delays in China.
• Cosmetic Valley suspects link to France's anti-fast-fashion law and EU parcel duties.
• Around 15% of goods destined for China are stuck at customs, according to some companies.

EU Tariff Reform Challenges Chinese E-Commerce Model

Chinese online retailers dominate cross-border e-commerce in the EU, with 90.2% of EU spending on non-EU merchants going to Chinese providers in 2025, totaling approximately €49.7 billion. New EU customs regulations, effective July 2026, impose a flat €3 fee on small shipments under €150, previously exempt from duties. This disproportionately affects low-cost items, potentially adding 60% to a €5 product. Chinese platforms like Temu, Shein, and AliExpress may need to adjust supply chains, potentially increasing use of European warehouses. American and European retailers with existing EU logistics could gain competitive advantage. The full impact on market shares remains to be seen.

• In 2025, Chinese providers accounted for 90.2% of EU consumers' online spending with non-EU merchants, totaling €49.7 billion.
• Since July 2026, the EU imposes a flat €3 fee on small shipments under €150 that were previously duty-free.
• This fee can add 60% to the cost of a €5 item, making low-cost Chinese imports more expensive.

EU Rules Slow Temu and Shein; New Fee in November

New EU customs regulations have significantly impacted Asian e-commerce platforms Temu, Shein, and AliExpress in Germany. Their combined revenue fell 35.5% year-on-year to €566 million in Q3, reducing their market share to 3.1% from 5.3% in Q2. The decline is due to the removal of the €150 customs threshold for non-EU shipments in July, now subject to customs duties with a €3 flat fee per product category for small parcels, plus a €2 processing fee from November. Despite these losses, German online retailers have not yet seen clear benefits: online marketplaces grew 5.0%, while single online shops declined by 0.8%. Overall, German online retail sales grew 2.9% year-on-year to €18.5 billion, below the 3.3% inflation rate, indicating real decline. The German E-Commerce and Mail Order Association (bevh) calls for stronger market surveillance and supports EU customs reforms.

• Temu, Shein, and AliExpress sales in Germany fell 35.5% year-on-year to €566 million in Q3.
• Their market share dropped to 3.1% from 5.3% in Q2.
• The EU removed the €150 customs threshold in July, introducing a €3 flat fee per product group and a €2 processing fee from November.